New Zealand's SmartPay Holdings eyes best day in 5 years on takeover bids

Smartpay Holdings

16/03/2025 23:07

** Shares of SmartPay Holdings SPY.NZ jump 31.8% to NZ$0.83, hitting its highest level since October 16, 2024

** Stock eyes best trading session since November 28, 2019, if current gains hold

** New Zealand-based payment services provider says it has received two separate conditional, non-binding and indicative proposals

** One of them from Australia-based payment solutions firm Tyro Payments TYR.AX for NZ$1 per SmartPay share, valuing co at NZ$241.1 million

** Other proposal from an unknown international party with no transactional details provided

** Co says it has provided both parties to conduct initial limited period of commercial due diligence on a non-exclusive basis

** More than 32,000 shares change hands versus 30-day average volume of around 19,800 shares

** Stock up 30.7% YTD, including current session's moves

 (Reporting by Nikita Maria Jino in Bengaluru; Editing by Lisa Shumaker)

 ((Nikita.Jino@thomsonreuters.com;))